Dow Enters Bull Market, Banks And Energy Lead; Microsoft Achieves Record High On AI Innovation: Tuesday's Market Movers
Portfolio Pulse from Shanthi Rexaline
The market mood has turned cautious again after major averages rebounded on Monday. Tech and small-cap stocks fueled a rally, while utility and real estate stocks came under selling pressure. JPMorgan analysts have expressed caution about the tech sector, citing potential risks to technology profits if the anticipated slowdown in economic activity materializes. In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ ETF (QQQ) both fell slightly. Medical devices manufacturer Masimo Corp. (MASI) plunged over 27% in premarket trading following its negative preannouncement.
July 18, 2023 | 10:56 am
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NEGATIVE IMPACT
Masimo Corp. (MASI) plunged over 27% in premarket trading following its negative preannouncement.
The significant plunge in MASI's stock price in premarket trading following its negative preannouncement indicates a strong negative impact on the company's short-term performance.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The Invesco QQQ ETF (QQQ) fell slightly in premarket trading on Tuesday.
The slight fall in QQQ in premarket trading indicates a cautious market mood, which could potentially impact the ETF's short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) fell slightly in premarket trading on Tuesday.
The slight fall in SPY in premarket trading indicates a cautious market mood, which could potentially impact the ETF's short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80